Stock Market Crash News Live Updates: Nifty Slips below 24,000, Sensex Falls 800 Points; IT Stocks Fall, Infosys Slumps 8%

• Infosys shares fell to their lowest level since December 2020 in intraday trade.
• The stock is now down over 45% from its all-time high.

• Nifty IT fell 6% in intraday trade, hitting its lowest level since April 2023.
• All Nifty IT constituents were down over 5%, except Wipro and OFSS.
• Infosys led the decline, falling nearly 8%, while TCS dropped nearly 6% and hit its lowest level since September 2020.

• SPML Infra Managing Director Abhinandan Sethi told NDTV Profit that the company is expanding in battery energy storage systems and sees the segment as a future growth driver.
• He said the company expects to deliver 1 GW of BESS orders in FY27, with its plant expected to be ready for production by July.
• Sethi said SPML Infra expects Rs 2,000–3,000 crore order inflows this year and 25% revenue growth in FY27.

• Matt Orton of Raymond James Investment told NDTV Profit that energy prices may remain elevated.
• He said the post-results fall in Accenture was overdone, but added that he remains sceptical about Indian IT services companies.
• Orton said Korea and Taiwan look attractive as AI plays, though volatile, and sees value in Indian financial stocks.

• Indian Oil Corp. fell 1.20%, while Bharat Petroleum Corp. declined 1.17%.
• Hindustan Petroleum Corp. slipped 0.90%.

• Prestige Estates Projects fell 2.70%, while Brigade Enterprises declined 1.95%.
• Anant Raj slipped 1.42%, Macrotech Developers fell 1.33% and Godrej Properties was down 1.25%.
• Phoenix Mills was the only stock in the list to gain, rising 1.15%.

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• Nifty fell as much as 0.9% to 23,947.25, while Sensex declined as much as 1%, or 770 points, to 76,639.
• The benchmarks halted a five-day gaining streak in early trade.

The Indian rupee strengthened as much as 2 paise to 94.31 against the US dollar at the open.

• Nifty 50 fell 176.80 points, or 0.73%, to 23,991.20 in pre-market trade.
• Sensex declined 544.11 points, or 0.70%, to 76,865.87.

• Morgan Stanley said Accenture’s Q3 read-through suggests a tough macro environment could continue into the second quarter, with delayed decision-making and Middle East tensions adding to uncertainty.
• Jefferies said Accenture’s revised revenue guidance points to further moderation in growth and could lead to consensus estimate cuts for Indian IT companies.
• Kotak Securities said Accenture’s results offered no positive cues for Indian IT, citing growth headwinds from GenAI-led deflation risk, Middle East tensions and weaker discretionary spending.

• FTSE-related adjustments may lead to inflows of $89 million in Lenskart, $84 million in Groww, $76 million in Tata Capital and $68 million in ICICI Pru AMC, according to Nuvama Alternative.
• Adani Ports may see outflows of $40 million, followed by Bajaj Finance at $35 million and Maruti at $26 million.
• Sensex-related adjustments may lead to inflows of $95 million in Bharti Airtel, while Maruti and HDFC Bank may see outflows of $14 million and $12 million, respectively.

• Citi maintained a Buy rating on Jubilant FoodWorks with a target price of Rs 650.
• The brokerage expects Domino’s India like-for-like growth to remain in the 5–7% range over the medium term. It said cost inflation could be partly offset through pricing and product mix.
• Citi also said management remains confident of 200 basis points standalone margin expansion, while Popeyes continues to show improving unit economics.

• Citi maintained Buy on Havells India with a target price of Rs 1,500. The brokerage said room air-conditioner demand has been mixed over the past two to three months, while cables and wires growth remains strong.
• BofA reiterated Underperform, citing mixed demand trends across regions. It said another round of AC price hikes is expected, with revenue growth likely to be led by pricing while margins may face pressure.

• JPMorgan maintained Neutral on Nykaa with a target price of Rs 270, while Morgan Stanley maintained Overweight and raised its target price to Rs 321 from Rs 286.
• Jefferies maintained Buy with a target price of Rs 350, citing Nykaa’s beauty, wellness, fashion and own-brand growth plans.
• Macquarie maintained Underperform with a target price of Rs 210, citing concerns over the pace of growth needed in parts of the beauty business and offline expansion.

• The Centre plans to raise about Rs 13,000 crore through an 8–10% offer for sale in Punjab & Sind Bank, UCO Bank and Indian Overseas Bank, Mint reported, citing people aware of the matter.
• The stake sale is aimed at meeting SEBI’s minimum public shareholding norms, according to the report.

• US Central Command said US forces have lifted the blockade on all maritime traffic entering and exiting Iranian ports and coastal areas.
• It said American forces are not impeding vessel transit to or from Iranian ports, and all blockade enforcement efforts have ceased.
• US naval ships will remain in the area to ensure the agreement is followed, according to the statement on X.

• Iran’s Supreme National Security Council said the Persian Gulf Strait Authority has been instructed to issue permits quickly for commercial ships transiting the Strait of Hormuz under the new memorandum.
• The council said no fees will be charged for 60 days.

• US Vice President JD Vance said Iran would not receive benefits under the peace plan unless it fully complies and changes its behaviour.
• He said no funds would come from the US under any circumstances, and argued that the agreement gives Washington a favourable outcome whether or not Iran complies.

• The US Federal Trade Commission has asked Aurobindo Pharma to divest four generic drug products to complete its $250 million acquisition of Lannett.
• The products include drugs used for organ transplant rejection, cholesterol management, dry mouth in radiation therapy patients and stomach acid reduction.
• The divestments will be made to Quagen Pharmaceuticals.

• US President Donald Trump said the US remains committed to peace and expects a complete ceasefire across fronts including Lebanon, Hezbollah and Israel.
• He said negotiations should be allowed to continue, adding that markets were responding to lower oil prices and higher stocks.

• Nifty June futures rose 0.48% to 24,209, trading at a premium of 41 points.
• In Nifty options expiring June 23, maximum Call open interest was at 24,500, while maximum Put open interest stood at 24,000.
• Kaynes is in the F&O ban period.

• Grand Oak Canyons Distillery and Sasken Technologies saw their price bands revised to 5% from 10%.
• Lloyds Engineering Works has been shortlisted under the long-term ASM framework.
• CarTrade Tech, Paras Defence and Space Technologies, Rashi Peripherals and V Marc India have been shortlisted under the short-term ASM framework, while Grand Oak Canyons Distillery and Rain Industries will be excluded from ASM.

• BIF IV Jarvis India, promoter of Altius Telecom Infrastructure Trust, disposed of 13.75 crore shares.
• MSP Steel & Power promoter group entities M A Hire Purchase, Shree Vinay Finvest and Sampat Marketing Company acquired shares.
• Khandepar Investments, promoter of Ravindra Energy, pledged 76.10 lakh shares. MTAR Technologies promoter Kavitha Reddy Gangapatnam disposed of 20,000 shares.

• ICICI Pru AMC has 34.4 crore shares under a six-month lock-in, valued at $11,872 million, representing 70% of total outstanding shares.
• Oswal Pumps has 6.1 crore shares under a one-year lock-in, valued at $273 million, representing 54% of total outstanding shares.

• Aruna Ganesh sold 1.71 crore shares of Anthem Biosciences at Rs 744.80 apiece. SBI Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, UTI Mutual Fund, Bajaj Life Insurance, ICICI Prudential Life Insurance and other investors were among buyers.
• In Procter & Gamble Hygiene and Health Care, Procter & Gamble Home Products bought 6.19 lakh shares, while Temple Trees Impex and Investment sold the same number of shares at Rs 8,995.50 each.
• Vanita L Nagda sold shares in Shaily Engineering Plastics across two transactions, while bulk deals were also reported in Ravindra Energy, Restaurant Brands Asia, GNA Axles and Motisons Jewellers.

• South Korea’s Kospi rose 2.82%, while Japan’s Nikkei 225 advanced 0.79%.
• Australia’s ASX 200 fell 0.89%. Markets in China, Hong Kong and Taiwan were closed for a holiday.

• Brent crude fell towards $79 a barrel and was down more than 9% for the week. West Texas Intermediate for August traded near $75.
• Prices declined as the US-Iran interim peace deal helped shipping through the Strait of Hormuz begin returning to normal.
• Ships carrying stranded oil started moving out of the waterway on Thursday, while Kuwait said it will begin increasing production.

• GIFT Nifty traded at 24,016, compared with Thursday’s Nifty 50 close of 24,168.
• The early indicator pointed to a lower start for the Indian equity benchmark.